Meta shares have lost more than a fifth of their value as the company is struggling to retain users.
Registering the first sequential loss of customers in the company’s 18-year history, Meta Platforms, earlier known as Facebook, dropped to 1.929 billion daily users from 1.93 billion users in the previous quarter. User growth across Whatsapp and Instagram was also lackluster, resulting in the share price dropping by 20 percent, losing the company nearly $200 billion in market value, which is more than the combined market value of other big tech platforms such as Twitter, Pinterest, and Snapchat.
